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The Body Shop Canada to Be Sold to Serruya Private Equity

By
Maya Johnson
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The Body Shop at CF Toronto Eaton Centre (Image: Dustin Fuhs)

The Body Shop Canada is set to enter a new chapter under the ownership of Serruya Private Equity Inc., the Markham, Ontario-based firm led by Michael Serruya, co-founder of the frozen yogurt chain Yogen Fruz. The cosmetics and skincare retailer confirmed in recent court filings that an agreement to sell all its assets was signed on December 6, with the deal expected to close on Monday.

The acquisition comes after a tumultuous year for the 44-year-old Canadian arm of the retailer, which has faced significant financial and operational hurdles. According to court records, Serruya Private Equity’s affiliate will purchase the company’s assets through a mix of cash and the assumption of certain liabilities. While the exact purchase price remains redacted, documents indicate that The Body Shop Canada’s creditors are owed between $11.5 million and $12.5 million.

A Rocky Road Leading to the Sale

The Body Shop Canada’s struggles came to light earlier this year when it filed for creditor protection in March, citing financial instability. At the time, the company closed 33 stores, leaving 72 locations operational. The Canadian business pointed to its parent company, European private equity firm Aurelius, as a key factor in its financial woes. In court filings, the Canadian arm alleged that Aurelius had “stripped it of cash” while burdening it with debt.

Michael Serruya

Despite these setbacks, public awareness of the company’s creditor protection proceedings triggered a surprising uptick in sales. However, the company continued to struggle due to its financial entanglement with its U.K.-based counterpart. The Body Shop Canada relied heavily on the U.K. operations for inventory, creating an additional layer of complexity.

“We were in a precarious situation,” said Jordan Searle, Head of The Body Shop Canada, in an affidavit filed earlier this year. “Our Canadian operations were profitable, but we needed to stabilize the business and find a sustainable future.”

By April, Searle revealed that there was sufficient interest from prospective buyers to pursue a sale. Following months of deliberation, an Ontario judge authorized the sale process in July. Interested parties were invited to submit offers by October 8, and court documents confirm that four bids were filed.

Serruya’s Plans for The Body Shop Canada

The deal’s complexity was heightened by the need for the Canadian operations to align with The Body Shop’s new U.K. ownership. Aurea Group, a French investment firm that purchased The Body Shop’s U.K. business earlier this year, indicated its preference to operate the Canadian arm through a franchise agreement.

Court filings reveal that Serruya Private Equity plans to enter into such a franchise agreement with Aurea Group before finalizing ownership. This arrangement ensures that The Body Shop Canada will continue to source its products from the U.K., safeguarding brand consistency. Franchising under Aurea’s leadership allows the Canadian business to remain part of the global brand while benefiting from Serruya’s strategic expertise.

Serruya Private Equity is no stranger to retail turnarounds. The firm has investments in several well-known consumer-facing businesses, including Second Cup Coffee Co., St. Louis Bar & Grill, Swensen’s, and Yogurty’s. Michael Serruya, the driving force behind the firm, has a reputation for reviving struggling brands and unlocking their growth potential.

The Body Shop Yorkdale

The Legacy of The Body Shop

Founded in 1976 by environmental activist Anita Roddick, The Body Shop emerged as a pioneer in ethical beauty products. Roddick’s mission was to create skincare and cosmetics that were not tested on animals and were produced through fair trade relationships with farmers and suppliers.

What began as a single store in Brighton, England, quickly evolved into a global phenomenon. By 2006, the brand was acquired by beauty giant L’Oréal for £652 million ($1.1 billion). L’Oréal later sold the company to Natura & Co., the Brazil-based owner of Avon, in 2017 for €1 billion ($1.4 billion). Most recently, Natura sold The Body Shop to Aurelius in 2023.

What Comes Next for The Body Shop Canada?

While the future remains uncertain, there is cautious optimism that Serruya Private Equity can inject the resources and expertise needed to stabilize The Body Shop Canada. The Canadian arm’s ability to retain a loyal customer base through this year’s turmoil is a positive indicator.

As part of the transition, Serruya Private Equity will likely focus on streamlining operations, improving the in-store experience, and enhancing e-commerce capabilities. The Body Shop Canada has an opportunity to reconnect with customers, particularly younger generations who align with its values. However, execution will be key.

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Ancient wonders meet cutting-edge technology: Horizon of Khufu opening at CF Chinook Centre in Calgary (Photos)

By
Mario Toneguzzi
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Photo: PHI Studio
Photo: PHI Studio

Calgary is about to experience a groundbreaking journey into ancient Egypt with the arrival of Horizon of Khufu, an immersive virtual reality (VR) expedition. Opening at CF Chinook Centre on December 12 for a limited one-month engagement, this awe-inspiring attraction is brought to life by Paris-based Excurio and distributed by Montreal’s PHI Studio.

“This new VR experience will take you on a journey to explore ancient Egypt and the pyramid of Khufu,” said PHI Studio in a news release. “In a space of nearly 10,000 square feet, visitors will be transported to Cairo and freely wander through Ancient Egypt.”

Having already captivated close to 500,000 visitors in cities like Paris, London, Montreal, Shanghai, and New York, the Calgary debut promises to be a must-see cultural experience that combines history, technology, and breathtaking visuals.

Darren Milne
Darren Milne

“Events like Horizon of Khufu are very impactful to CF Chinook Centre. Both because they offer our shoppers a new and distinctive entertainment experience and because it gives shoppers another reason to choose CF Chinook Centre. Building vibrant and engaging experiences for our shoppers is at the heart of our business, and we’re incredibly proud to bring our guests together to enjoy this truly unique event,” said Darren Milne, General Manager at Chinook Centre.

A VR Journey Through Time

Horizon of Khufu offers a 45-minute adventure where participants don VR headsets to explore the Great Pyramid of Khufu, a structure that has fascinated humanity for over 4,500 years. Visitors will roam freely through reconstructed galleries and spaces, many of which remain off-limits to the public in real life.

“The experience culminates in a climb to the pyramid’s peak, where a stunning view of modern Cairo and the Giza Plateau unfolds,” the release stated. “Participants will also embark on a solar barque along the Nile to witness the funerary rites of King Khufu, brought to life through the latest archaeological discoveries.”

Developed with guidance from Harvard Egyptologist Peter Der Manuelian and his team at the Giza Project, the experience ensures historical and architectural accuracy.

Natasha Gural of Forbes praised Excurio’s artistry, noting, “Not all VR experiences are worth the money, but Excurio has elevated it to an art form by evoking myriad emotions, the most genuine path to fostering empathy and amplifying the shared human experience.”

Bridging History and Technology

The Great Pyramid of Khufu, the last remaining Wonder of the Ancient World, was built between 2590 and 2565 BC. Standing at 146 metres, the pyramid represents a marvel of ancient architectural ingenuity.

Using state-of-the-art VR technology, Horizon of Khufu provides an unparalleled opportunity for participants to immerse themselves in this historical wonder. The production reflects three years of meticulous research and development, combining education and entertainment to captivate audiences of all ages.

Cultural Entertainment at Its Finest

The event’s Calgary debut marks an exciting chapter for PHI Studio, which is known for its innovative approach to immersive experiences. “PHI Studio has established a reputation as an incubator for cutting-edge talent and a catalyst for immersive, multidisciplinary projects,” said Phoebe Greenberg, Founder of PHI.

Horizon of Khufu is the first location-based entertainment experience distributed by PHI Studio, a testament to its growing role in the intersection of art, technology, and cultural storytelling.

Plan Your Visit

Tickets for Horizon of Khufu are now available online.

For additional information about Horizon of Khufu in Calgary including ticket sales for the public, visit https://horizonkheopsexperience.com/calgary/.

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IPOP opens first inclusive pickleball centre, plans to expand across Canada

By
Shelby Hautala
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Photo: Inclusive Place of Pickleball

As pickleball is a rapidly growing sport, the Inclusive Place of Pickleball, or IPOP,  will be opening its first location in British Columbia with the goal of expansion. Chris White, the CEO and founder of IPOP, discusses the benefits of the game and future plans. 

“The most important word in our brand is inclusive – we are adaptable and want to be everywhere. Our brand is focused on maintaining mental health, improving lives in the long run, and aging healthily. This is why we are focused on creating an optimal pickleball centre with the best courts, quality programming, and a streamlined, enjoyable experience for the customer,” says White. 

Chris White. Photo: LinkedIn

White’s journey and IPOP’s mission 

During the pandemic, White found himself looking for connection, which led him to pickleball.

“During Covid, it was a really rough time for a lot of people. I was alone a lot of the time and didn’t have any interaction with people. Then I came across a park called Keswick Park, where people were playing pickleball, and I was intrigued by the sound and the laughter I heard. I rode my bike over and saw these people, all masked and spread out, playing pickleball. That day, I was there for four hours. I just made this group of friends, and I didn’t think about anything else. All I could think about was how to get back to that court the next day – pickleball saved my life.” 

White’s new passion turned into a business opportunity.

“When the weather got bad in Canada, there were very limited options for playing indoors. That is when I saw a problem and a business opportunity. IPOP was born from the need to create a space where everybody could play, regardless of weather or other barriers. We want to make sure everyone feels welcome and has the opportunity to enjoy the game. This isn’t just about playing pickleball but about building a supportive, connected community. Our goal is to bring inclusive pickleball to the masses and secure access for future generations.”

White is making IPOP accessible to everyone no matter what barrier, including wheelchair accessibility. 

Rendering of a future IPOP facility. Rendering Supplied.
Rendering of a future IPOP facility. Rendering Supplied.

Expansion plans 

IPOP is planning to open in the Lower Mainland area this winter. Before this, IPOP was using temporary locations in British Columbia. 

White says IPOP is working on three locations in British Columbia: the Lower Mainland, Okanagan, Victoria, and Nanaimo. Okanagan is planned to open next summer, Victoria by 2025, and Nanaimo by 2026.

IPOP is also exploring opportunities across Canada, with plans to expand to Montreal next year. As the business is adaptable, it can go into different types of locations, such as retail and industrial areas. White says IPOP needs spaces with high ceilings and open areas for multiple courts, free of obstructions like columns.

Rendering of a future IPOP facility. Rendering Supplied.
Rendering of a future IPOP facility. Rendering Supplied.

Adaptable concept

“As we are adaptable, we can put our concept into many different places, not just prime retail spaces but also industrial areas and raw land. We are also exploring other places in Canada, such as Quebec, Manitoba and Ontario. Our goal is to be where we are needed and create spaces that bring people together through the game of pickleball.” 

White also mentions that shopping malls are ideal for their accessibility and foot traffic but is considering outdoor spaces like parking lots.

“Whether it is a vacant lot, an old grocery store, or a section of a mall, we can make it work. The key is to find a space where we can create an optimal playing environment and build a strong community.” 

To reach expansion goals, IPOP has partnered with Aurora Realty Consultants.

IPOP also offers programs for first responders, youths, and contributors to make pickleball accessible.

“We raise money through our tournaments and then subsidize those groups because they may not have financial access.” 

Rendering of a future IPOP facility. Rendering Supplied.

Spreading awareness and health benefits of pickleball 

White says pickleball offers a variety of health benefits: a full body workout and improved heart health, agility, and coordination. 

“If you really want to improve your mental health, the fastest thing you can do is go to the local pickleball court, meet people, and play pickleball. You will feel better and be on the path to improving your longevity and mental health.”

He adds that pickleball improves physical fitness, reduces stress, and brings a “strong sense of community and connection.

The City of Lougheed: rendering: The City of Lougheed in Burnaby, BC. Rendering Supplied.

To promote pickleball’s health benefits, White partners with universities and collaborates with organizations like the BC Lung Foundation for research.

“Our goal is to create a welcoming environment where everyone can play and feel part of the community. As we expand, we are excited to bring the joy and benefits of pickleball to more people across Canada. With a focus on health, community, and inclusivity, IPOP aims to make pickleball a sport that all can enjoy, ensuring a lasting impact on both mental health and physical well-being.” 

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StyleDemocracy Grows with E-Commerce and U.S. Warehouse Sales

By
Craig Patterson
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StyleDemocracy warehouse sale. Photo: StyleDemocracy

StyleDemocracy, a Canadian retail event company known for its large-scale warehouse sales, is transforming its business to include a more robust digital sales platform, all while continuing its successful in-person events.

Founded in 1999 by Michael Berg, the company has built strong relationships with global brands, offering an efficient solution for managing excess inventory. Now, under the leadership of his son, Oliver Berg, Vice President, and Alex Mazelow, Head of Digital, StyleDemocracy is expanding its reach, particularly through its evolving e-commerce strategy.

Business Origins and Growth in a Post-Pandemic World

Oliver Berg

StyleDemocracy’s roots go back to its origins in the retail industry. “My father started StyleDemocracy after our family business closed down. He leveraged his relationships with major retail brands to help manage excess inventory,” Oliver Berg explained. The company’s focus has always been on facilitating warehouse sales that allow brands to offload unsold stock while maintaining their brand integrity. From the start, StyleDemocracy worked with a wide array of high-profile brands, including Nike, Adidas, Ted Baker, and Max Mara, successfully filling a niche in the market.

The COVID-19 pandemic, however, forced a major shift in how the business operated. “We had to pivot when our in-person events were put on hold during the pandemic,” Berg shared. “Moving to e-commerce became necessary for us to continue serving our clients and keep the business running.” The shift proved beneficial, as post-pandemic retail saw a surge in excess inventory, making StyleDemocracy’s services more critical than ever.

Alex Mazelow

Before the pandemic, StyleDemocracy hosted around 10 to 12 events per year, mostly in the Greater Toronto Area. However, the demand for inventory liquidation skyrocketed in the aftermath of COVID-19, pushing the company to scale up operations. “In 2023, we hosted 20 events, and by 2024, we’re set to host 27, including several in the U.S.,” said Berg. The growth in demand reflects a broader trend in retail, where efficient inventory management has become a key priority for brands struggling with surplus stock.

StyleDemocracy’s E-Commerce Strategy Takes Shape

While the company’s warehouse events remain a staple, the move to e-commerce has been a vital part of its continued growth. Alex Mazelow, brought on as Head of Digital, has been tasked with guiding StyleDemocracy’s digital expansion. “We saw a massive opportunity to leverage our customer database, which has grown to over 400,000 people, and our strong social media following,” said Mazelow.

StyleDemocracy’s e-commerce strategy focuses on limited-time product drops that create a sense of urgency, mirroring the high-energy atmosphere of its warehouse sales. “We’re working with smaller quantities of in-demand products for each sale, offering a curated selection for a limited time,” Mazelow explained. These product drops will run between two and four days, designed to generate excitement and drive sales, much like the in-person events.

The company’s first post-pandemic e-commerce event launched last month for French luxury brand Christian Louboutin, known particularly for its footwear and bags. “The Christian Louboutin sale was fantastic,” said Mazelow. “We have more upcoming sales, including for brands 7 for All Mankind, Commes Des Garcons PLAY, and a designer fragrance sale in December”. 

Balancing Physical and Digital Sales to Maximize Brand Value

Though e-commerce is growing, StyleDemocracy remains committed to its physical warehouse sales, which continue to deliver impressive results for both the company and its clients. The in-person events offer a unique shopping experience that online sales cannot fully replicate. “In-person sales have a much higher conversion rate,” said Berg. “When customers attend a warehouse sale, they’re more invested—they’ve traveled, sometimes waited in line, and once they’re inside, they’re far more likely to make a purchase.”

This level of customer commitment leads to conversion rates of 70 to 80 percent for warehouse events, compared to the 2 percent conversion rate that is considered strong for e-commerce. “We reserve our physical warehouse sales for larger quantities of inventory because the in-person experience drives mass conversion. It’s a different game than e-commerce,” Berg explained.

As demand for their services continues to rise, StyleDemocracy is expanding its physical footprint across North America. The company is hosting more events in major U.S. cities, capitalizing on its ability to rent large venues and run high-volume sales events. “Our warehouse sales are often held in spaces as large as 50,000 square feet, which allows us to manage significant amounts of inventory,” said Berg. This flexibility gives StyleDemocracy a competitive edge in the U.S. market, where similar event-based models don’t exist on the same scale.

StyleDemocracy warehouse sale. Photo: StyleDemocracy

Building the Future of StyleDemocracy’s Sales Model

Looking forward, StyleDemocracy is poised to continue its expansion, both in terms of physical events and e-commerce initiatives. The company recently introduced StyleDemocracy Club Plus, a membership program that offers exclusive benefits for just $14.99 per year. Members receive early access to both online and physical sales, which adds a level of exclusivity and drives further customer engagement. The program has already attracted 15,000 members and continues to grow as the company expands into new markets.

“We’re working to create a seamless, unified experience for our customers, whether they’re shopping in-person or online,” said Mazelow. “The Club Plus program is an important part of that strategy, allowing us to provide value to our most loyal customers in a way that aligns with their shopping preferences.”

The future of StyleDemocracy is bright as the company looks to further scale its operations, particularly in the United States. “There’s a huge market opportunity for us south of the border,” said Berg. “We’ve already made significant strides there, and we’re just getting started.”

With a business model that effectively combines large-scale physical events with the speed and agility of e-commerce, StyleDemocracy is well-positioned to remain a leader in the retail liquidation space. The company’s ability to adapt and innovate in response to market demands has set it on a trajectory for continued success in both Canada and the U.S.

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Canada’s Holiday GST/HST Tax Break: Relief or Economic Risk?

By
Retail Insider
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Shoppers on Sainte-Catherine Street take advantage of deals on Black Friday in Montréal on Nov. 29, 2024. THE CANADIAN PRESS/Christinne Muschi

By Shahidul Islam and Subhadip Ghosh, MacEwan University

The government of Canada has announced its plans for a temporary tax break by exempting GST/HST on certain items during the holiday season from Dec. 14, 2024 to Feb. 15, 2025. The legislation to enact the tax break has cleared the House of Commons and is now awaiting Senate approval.

The tax break applies to clothing, footwear, diapers, car seats, toys for children, jigsaw puzzles, physical video games, consoles and controllers, physical books, printed newspapers, Christmas and similar decorative trees, and food or beverages.

The purpose of this tax break is purportedly to offer financial relief to Canadians amid high food and housing costs. Minister of Public Services and Procurement Jean-Yves Duclos justified the decision as follows:

“Although inflation is down and our economy is strong, the cost of living remains a challenge for many middle-class Canadians. That is why the federal government is introducing a two-month tax break on groceries and everyday essentials.”

Government estimates suggest that someone spending $2,000 during the tax-free period could save between $100 and $300, while Pedro Antunes, the chief economist of the Conference Board of Canada, projects average household savings of $100 to $200.

But while the tax break will indeed put more money into consumers’ pockets as the government claims, whether it will actually ease inflationary pressures is uncertain.

Inflationary pressure

Tax reductions often create an income effect by increasing disposable income and boosting demand for various goods and services. If supply isn’t able to keep pace with the rising demand, this can lead to higher inflation.

If a tax reduction boosts capital formation — the total capital accumulation during a certain period — then it might not cause inflation. But this likely isn’t the case in this scenario, since GST reductions tend to boost demand without increasing supply.

Historically, similar tax policies have had short-term inflationary effects. For instance, following Prime Minister Stephen Harper’s GST reductions in 2006 and 2008, prices temporarily spiked before stabilizing.

A man with dark hair in a navy suit gestures with his hand while speaking into a microphone
Prime Minister Justin Trudeau participates in an armchair discussion at the Sustainable Finance conference in Ottawa on Nov. 28, 2024. THE CANADIAN PRESS/Adrian Wyld

The holiday tax break will cost the government an estimated $6.3 billion, which will likely have a multiplier effect on the economy. This occurs when an initial injection of government spending leads to a larger overall impact on the economy as the money circulates through it.

While the tax-exempt goods represent a small fraction of GDP, this multiplier effect could drive notable GDP growth in early 2025.

Another key economic concern is the potential for “price stickiness,” where businesses fail to pass tax reductions onto consumers. For instance, when the Alberta government ended its 13-cent-per-litre gas tax in 2022, not all gas stations reduced prices equally. A similar situation could occur if businesses choose to keep prices near pre-tax levels to retain part of the tax savings.

Implementation challenges to retailers

While the tax break offers relief to some consumers, it presents challenges for retailers. It will likely take a substantial effort for retailers to implement the tax exemption, with some finding it particularly challenging to do so in such a short period.

The Canadian Federation of Independent Business has argued that the new policy will add confusion and increase administrative costs for affected businesses. It has called on the government to offer a $1,000 credit in their GST/HST accounts to offset the burden.

A woman walks down the aisle of a grocery store
A customer shops at a grocery store in Sharon, Ont., in November 2024. The federal government has announced a sweeping promise to make goods like groceries, children’s clothing, Christmas trees and restaurant meals free from GST/HST between Dec. 14 and Feb. 15. THE CANADIAN PRESS/Chris Young

Sylvain Charlebois, a professor of food distribution and policy, has argued that the holiday tax break may seem like a relief but it could create long-term instability because the grocery savings are minimal and the benefits are disproportional.

Some businesses will likely see a boost in sales, however. Since all types of restaurant foods — dining in, takeout or delivery — will be covered by the tax break, restaurants will have a unique opportunity to attract more customers.

Winners and losers

There will be winners and losers from this tax policy, with the benefits disproportionately favouring higher-income earners. Wealthier households, who are less affected by inflation, are better positioned to take advantage of the tax break by spending more and saving more. These families will be able to more easily adjust their purchasing habits, such as stockpiling a year’s supply of baby diapers during the tax-free period.

It’s important to note that many essential grocery items, like produce and milk, are already tax-free under Canada Revenue Agency rules. The tax break will cover taxed items like carbonated drinks, candies, snack foods and alcoholic beverages. This means higher-income households, which spend more on discretionary items, stand to gain the most from a reduction in sales tax benefits.

This holiday tax break could exacerbate economic inequity — contrary to its stated objective. Taxes play a key role in reducing inequality, and any changes to the tax systems should consider that. Unfortunately, this GST reduction appears to fall short.

Moreover, the benefits are not distributed evenly across Canadian provinces and territories. Consumers from provinces with HST will not pay any taxes for the items listed in the policy, but those with standalone provincial sales taxes will still have to pay that tax. Alberta, which only charges GST, will be tax-free.

While the holiday tax break may offer limited economic relief, its potential adverse effects on inflation and income inequality cannot be overlooked. As such, we concur with Charlebois’s recommendation that permanently eliminating taxes on essential goods would deliver more equitable and lasting benefits.

About the authors:

Shahidul Islam, Professor Department of Anthropology, Economics, and Political Science, MacEwan University, and Subhadip Ghosh, Assistant Professor in Decision Sciences, School of Business, MacEwan University.

Disclosure statement

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

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*This article was originally published in The Conversation, and was re-published with permission.

Jay Nok Modern Thai to Open in Vancouver’s Olympic Village

By
Mario Toneguzzi
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Jay Nok Modern Thai
Jay Nok Modern Thai

The closure of SalaThai earlier this year marked the end of an era in Vancouver’s culinary landscape.

For nearly 40 years, co-founders Sam and Joy Kongsilp shared their passion for authentic Thai cuisine. Now, the Kongsilp family is opening Jay Nok Modern Thai, a new restaurant that both honours SalaThai’s legacy and forges an entirely new path.

Located at 127 W 2nd Avenue in Olympic Village, Jay Nok is preparing to welcome guests in early 2025. 

“Jay Nok represents everything we love about Thai culture—bold, authentic flavours, the joy of coming together, and the seamless blend of tradition and modernity,” said the owners. “Our menu is a love letter to the dishes that shaped us, reimagined with a fresh, modern twist. We’re thrilled to share this passion with Vancouver and invite the city to experience Thai street food in a way that feels both familiar and entirely new.” 

Jay Nok’s opening will come just months after Sam and Joy were recognized as “Industry Pioneers” by the BC Restaurant Hall of Fame in October.

For Joy, the opening of Jay Nok is a deeply personal milestone. “Handing over the reins to the next generation is a proud moment for me,” said Joy. “SalaThai was built on a foundation of family, tradition, and love for Thai cuisine. Jay Nok reflects those same values but with a fresh, innovative vision. I couldn’t be happier to see the next generation bring our family’s legacy to life in a way that resonates with today’s diners.” 

The company said the new restaurant will offer a vibrant take on Thai street food and beverages, bringing bold flavours of Bangkok’s bustling markets and the spirit of a communal dining experience to the heart of Vancouver. The menu is rooted in tradition yet embraces modernity, with dishes designed for sharing with friends and family in groups of any size. 

Ensuring a seamless and welcoming experience for every guest

“At the helm of Jay Nok is an experienced team deeply rooted in Vancouver’s restaurant community. Executive Chef Bumpen “Jay Nok” Khangrang, whose culinary artistry was honed both in Thailand and through her tenure at SalaThai, leads the kitchen. Her talent for bold flavours and intricate presentation has earned her recognition from the Royal Thai Consulate in Vancouver and accolades throughout her career. General Manager Bobby Kongsilp and Project Manager Margarita Virata Santos bring decades of expertise to the front-of-house, ensuring a seamless and welcoming experience for every guest,” said the company in a news release.

“The restaurant space seamlessly transforms with the time of day. At lunchtime, guests will feel transported to Bangkok’s lively streets, with a bright, fast-casual atmosphere. By night, the restaurant becomes a glowing social haven, blending warm Thai charm with eclectic street-inspired decor, curated beats, and a lively cocktail lounge. With its blend of traditional Thai hospitality and a contemporary, urban edge, Jay Nok will offer a sensory feast and memorable dining experience for all occasions.”

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Slow Shopping: A consumer shift toward intentionality: Sarah Stockdale (VIDEO)

By
Mario Toneguzzi
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With holiday spending in full swing, the shopping frenzy can feel inescapable. But a growing trend is encouraging consumers to step back and rethink their approach. Sarah Stockdale, founder and CEO of Growclass, calls it “slow shopping,” a concept centred on deliberate, intentional purchasing decisions.

“Slow shopping is about removing yourself from the manufactured urgency that marketers often create,” Stockdale explained in a recent interview. “It’s about focusing on what you genuinely want and need, and investing time and research into purchases that will last, rather than succumbing to the frenzy of sales events like Black Friday or Cyber Monday.”

Stockdale emphasized how pervasive marketing tactics can pressure consumers into feeling a false sense of urgency. “Many of these discounts are inflated,” she pointed out. “Amazon sellers, for instance, may raise prices in anticipation of a sale, so you think you’re getting a great deal when you’re not.” Tools like Honey or CamelCamelCamel can help shoppers verify whether a discount is truly worthwhile, she added.

Resisting the Frenzy

For consumers looking to slow down, Stockdale advises simplifying their digital environment. “Unsubscribe from email lists that encourage impulsive buying,” she said. “It’s a small step that helps reduce exposure to urgency-driven marketing.”

She also highlighted the importance of aligning purchases with personal values. “Small businesses need your support. Ask yourself: is the way you’re shopping aligned with your values? Are you buying things you’ll love and use for a long time, or are you chasing a quick dopamine hit?”

Caution on ‘Buy Now, Pay Later’

One popular trend, the rise of “buy now, pay later” services, also caught Stockdale’s attention. “We’re in a challenging economy, and these services, like Klarna, appeal to consumers by making purchases feel more accessible,” she noted. However, she cautioned against over-reliance. “If you can’t afford something now, it’s worth reconsidering. These schemes can impact your credit and financial stability.”

Building Trust in Retail

In today’s fast-paced retail landscape, trust plays a critical role. “With tools like Shopify and Klaviyo, anyone can launch an e-commerce store quickly,” Stockdale explained. “For brands, it’s crucial to build lasting relationships with customers by respecting their time and delivering real value.”

Despite economic challenges, surveys indicate consumers are spending more this holiday season. Stockdale attributes this to societal values tied to spending. “We’re constantly told our worth is tied to how much we spend on our loved ones, especially during the holidays,” she said. “Breaking that narrative is difficult, but it’s essential to resist the capitalist machine that drives this mindset.”

About Growclass

In addition to her insights on consumer behaviour, Stockdale shared her work with Growclass, a six-week growth marketing course and community. “We’ve built a network of over 1,500 marketers globally, helping them develop skills to grow their careers and economic impact,” she explained. “We want people to feel empowered in their purchasing and professional decisions.”

For Stockdale, the message is clear: slow shopping isn’t just about saving money; it’s about fostering a more intentional and value-driven approach to consumption.

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Bank of Canada lowers overnight interest rate

By
Mario Toneguzzi
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Photo- Statistics Canada
Photo- Statistics Canada

The Bank of Canada today reduced its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. 

In a news release, the Bank said the Canadian economy grew by 1% in the third quarter, somewhat below the Bank’s October projection, and the fourth quarter also looks weaker than projected. 

“Third-quarter GDP growth was pulled down by business investment, inventories and exports. In contrast, consumer spending and housing activity both picked up, suggesting lower interest rates are beginning to boost household spending,” it said.

“A number of policy measures have been announced that will affect the outlook for near-term growth and inflation in Canada. Reductions in targeted immigration levels suggest GDP growth next year will be below the Bank’s October forecast. The effects on inflation will likely be more muted, given that lower immigration dampens both demand and supply. 

“Other federal and provincial policies—including a temporary suspension of the GST on some consumer products, one-time payments to individuals, and changes to mortgage rules—will affect the dynamics of demand and inflation. The Bank will look through effects that are temporary and focus on underlying trends to guide its policy decisions. In addition, the possibility the incoming US administration will impose new tariffs on Canadian exports to the United States has increased uncertainty and clouded the economic outlook.”

The Bank said inflation has been about 2% since the summer, and is expected to average close to the 2% target over the next couple of years. 

“Since October, the upward pressure on inflation from shelter and the downward pressure from goods prices have both moderated as expected. Looking ahead, the GST holiday will temporarily lower inflation but that will be unwound once the GST break ends. Measures of core inflation will help us assess the trend in CPI (Consumer Price Index) inflation.”

CPA Canada’s Chief Economist, David-Alexandre Brassard, said this latest move substantiates the Bank’s shifting focus from inflation to the slowing economy.

“Slowing wage growth and unemployment at a seven-year high—excluding the pandemic—signal that the economy needs support,” said Brassard. “The decision to cut rates now will provide relief ahead of potential tariff turbulence under Trump’s administration.”

“While the expected rate cut will ease debt repayment burdens for mortgage holders in particular, it won’t reverse price hikes,” added Li Zhang, CPA Canada’s financial literacy leader. “As the holiday season approaches, Canadians should create budgets and stick to them, resisting the urge to overspend regardless of interest rate cuts.”

Phil Soper, President and CEO of Royal LePage, said: “Starting in late spring 2024, we have seen the Bank of Canada continue to lower the cost of borrowing, a process that has prompted homebuyer demand to steadily rise, with a sharp uptick in activity following their first 50-point cut in October. This latest significant rate cut will help to sustain activity throughout the winter months, typically the slowest period for real estate transactions in Canada.

“Buyers have woken up to the reality that property prices are rising again, and more will feel an urgency to act before affordability erodes. As a result, we are anticipating a ‘pull-ahead’ of activity and an early start to the traditional spring housing market. Adding to this momentum is the change in lending policies that come into effect on December 15th, which we believe will coax more sidelined purchasers to take advantage of their expanded borrowing power.”

Photo: Retail Council of Canada

Peter Norman, Vice President at Altus Group, said: “I think one of the most important factors since the last rate adjustment is the fact that GDP numbers for the third quarter were surprisingly weak, which tipped the scales in favour of more – and faster – cuts. Yes, the CPI number crept up in October, but not to a worrisome level, so a smaller cut still seemed unlikely heading into this announcement.

“The US is our biggest trading partner, so while we don’t really know yet if trade tariffs will materialize next year, increased trade tensions can affect business investment decisions and investment confidence. These are things the Bank of Canada will do their best to head off and, once again, this points to more easing on the Canadian side.

“The Bank of Canada is a very blunt instrument – the impact of their decisions typically play out slowly over time, so today’s decision may not make an immediate difference to January employment, but will contribute toward a stronger 2025. However, capital flows respond more quickly to relative interest rates and, when that happens, business confidence is just a step behind.

“I expect the bank rate to settle at around 2.5%, which should lay the groundwork for a long-awaited uptick in transactions and development activity.

Ray Wong, Vice President at Altus Group, said: “Even with another decrease, it will take time for companies to get settled again, and not only feel more confident in the market – but start executing in a way that reflects that confidence. Canada is facing a significant challenge on the employment side, and I think that will take some time for the labour market – and the economy at large – to reflect the positive impact of the rate-cutting cycle.

“The Bank of Canada will continue to cut into 2025, but I think the rate at which they do so will ultimately depend on the Federal Reserve. The bid-ask gap is slowly closing, and I think we’re going to see steady increases in activity next year, as a reflection of this year’s rate decisions. Some owners and investors may try to get into the market a little earlier than their competitors, in which case they may come to the table with a slightly higher price to meet the bid-ask gap to secure certain properties. Of course, core assets will always get attention – but ultimately, I think we are looking at a slow and measured start to 2025.”

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aaniin CF Eaton Centre pop-up hits one-month sales goal in 10 days

By
Mario Toneguzzi
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Aaniin
Aaniin

The Indigenous-owned aaniin pop-up retail store at the CF Toronto Eaton Centre has achieved an extraordinary milestone, exceeding its one-month sales goal in less than 10 days, generating four times its projected revenue within two weeks.

This groundbreaking achievement highlights the growing demand for Indigenous-owned brands and the impact of aaniin’s innovative retail concept.

Chelsee Pettit
Chelsee Pettit

“The success of aaniin isn’t just about meeting sales goals – it’s about showing the world the power of Indigenous entrepreneurship,” said Chelsee Pettit, founder of aaniin, an Anishinaabe entrepreneur from Aamjiwnaag First Nation. “This store is all about celebrating Indigenous creativity, and we’ve made supporting our community easier than ever in a way that’s powerful, accessible and inclusive.”

Since its launch on November 29, the aaniin pop-up has transformed retail at the CF Toronto Eaton Centre. “Aaniin,” meaning “hello” in Ojibwe, is more than a pop-up shop—it’s a movement to promote and expand Indigenous commerce, said the retailer in a news release.

“Spanning 6,500 square feet, this retail space features over 40 Indigenous-owned brands, including aaniin’s in-house streetwear brand, as well as apparel, jewelry, beauty, home goods, artwork, books, and more. This exciting addition to the Downtown Tkaronto (the Mohawk word for Toronto meaning “the place in the water where the trees are standing”) mall invites everyone to embrace Indigenous entrepreneurship and creativity in an entirely new way,” it said.

“In addition to aaniin’s in-house products, the pop-up showcases 45 other Indigenous-owned brands that are thriving this holiday season, benefiting from the visibility and sales momentum aaniin has created. From established names like Cheekbone Beauty and Lesley Hampton to emerging brands like Future Kokum, these businesses are enjoying one of their most profitable seasons yet. The initiative is empowering small brands to succeed in a retail environment that often prioritizes large-scale enterprises, creating opportunities for economic growth and broader recognition of Indigenous talent.”

aaniin is inviting shoppers to a special book signing and reading event on Saturday December 14 from 1 p.m. to 4 p.m. The event will feature Cree Nomad, the Métis-Cree, Two-Spirit author and climate activist, whose debut novel, Hey, June, has become a sensation since its release earlier this year. Attendees can bring their copy of the book or purchase one in-store to have it signed by the author, enjoy a reading from Hey, June, and sip tea while connecting with the community in a welcoming space.

Also, shoppers can enjoy mini makeover sessions with Cheekbone Beauty from December 12 to 14. The pop-up will remain open through December 31.

aaniin was founded in June 2021.

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 Apothecare fills cannabis care gap with pharmacist-led consultations, expands support for veterans

By
Mario Toneguzzi
-
Photo: Apothecare
Photo: Apothecare

With the rise of cannabis use for health and wellness, one company is stepping in to provide much-needed professional guidance. Apothecare, a pharmacist-led cannabis consultation service, is bridging the gap for Canadians seeking safe and informed cannabis use alongside conventional medicine.

Anushya Vijayaraghevan
Anushya Vijayaraghevan

“We saw a gap in care when cannabis was legalized in 2018,” said Anushya Vijayaraghevan, lead pharmacist and co-founder of Apothecare. “Consumers were walking into retail cannabis stores for health reasons but couldn’t access professional advice, as budtenders aren’t legally allowed to provide medical guidance. That’s where Apothecare steps in.”

Apothecare offers personalized, evidence-based consultations through its virtual platform. Using the Jane app, the company provides services across Ontario and is actively expanding nationwide. The consultations, conducted via phone or video, help clients navigate cannabis use safely, considering drug interactions, contraindications, and overall health goals.

Filling a Critical Need for Older Adults and Veterans


Vijayaraghevan shared insights into the demographics of Apothecare’s clients. “The average age of our patients is 61,” she explained. “Many are on four or more prescription medications, underscoring the need for professional oversight. Older adults are becoming more open to cannabis as the stigma fades, but they need proper guidance to avoid harmful interactions.”

Veterans, in particular, have emerged as a key focus for Apothecare. “Canada is home to nearly half a million veterans, 40% of whom are over 65,” Vijayaraghevan said. “Forty-five percent of veterans treated for mental health conditions turn to cannabis, often after leaving military service. Unfortunately, many rely on trial and error to find products because there’s limited access to knowledgeable healthcare professionals.”

To address this, Apothecare recently launched free wellness consultations tailored to veterans. “We want to make it accessible for them,” she emphasized. “Many family doctors aren’t educated in cannabis use and avoid discussing it, leaving veterans without guidance. Our services are here to support them with evidence-based care.”

Retail Partnerships Driving Growth

While Apothecare operates virtually, it maintains strong partnerships with retail cannabis stores. “We collaborate with retailers who refer customers needing health and wellness guidance,” said Vijayaraghevan. “Currently, we’re focused in Ontario . . . We’re also in talks with larger banners to expand our services further.”

These partnerships allow Apothecare to integrate its services seamlessly into the retail experience, ensuring that consumers have access to professional advice alongside their purchases.

A Vision for the Future

Looking ahead, Apothecare aims to continue expanding its reach while advocating for greater education and resources in the healthcare space. “Cannabis can be an effective tool for health and wellness, but it must be used responsibly,” said Vijayaraghevan. “Our goal is to empower Canadians with the knowledge and guidance they need to make informed decisions.”

With its unique pharmacist-led model, Apothecare is setting a new standard for cannabis care, ensuring that consumers—especially vulnerable populations like older adults and veterans—have access to safe, evidence-based support.

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Square Ventures into the Canadian Cannabis Market with Jane Technologies Partnership
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